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Electrodes for Medical Devices Market Trends, 2013-2019

Electrodes for Medical Devices Market (Diagnostic Electrodes - ECG, EEG, EMG, ERG and Fetal Scalp Electrodes, Therapeutic Electrodes - TENS, Pacemakers, Defibrillators, Electrosurgical and Other Electrodes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

Electrodes are conductors capable of passing energy signals from one medium to another i.e. from a power source to a material or device. The electrodes are composed especially of metals such as copper, zinc, silver, nickel, cadmium, manganese oxide and others. In medical applications electrodes facilitate diagnosis as well as treatment of several disease conditions. For instance electrocardiography ECG electrodes are employed to diagnose cardiac disorders whereas electrosurgical electrodes are deployed in various surgeries to ensure precise incisions with minimal loss of blood. 
 
The industry for medical electrodes is witnessing a rapid pace of technological advances that result in the commercialization of novel diagnostic and therapeutic electrodes. Increasing incidences of cardiac disorders coupled with several neurological disorders create an escalated demand for effective diagnosis and treatment approaches that lead to development of reliable and accurate diagnostic and therapeutic platforms. This in turn results in introduction of high patient compliant and efficient electrodes. According to the data enumerated and updated in the year 2013 by World health Organization (WHO), approximately 6.2 million people die out of strokes annually and more than 50 million people have epilepsy worldwide. The organization (WHO) also states that the number of deaths due to cardiovascular diseases is expected to reach 23 million by the year 2030. Hence, these alarming disorder rates create a high demand for novel and innovative diagnostic and therapeutic methodologies. 
 
The major factors contributing towards proliferation of electrodes are consistent technological advances, high preference towards disposable electrodes over reusable and increased introduction of novel electrode technologies. Increased preference towards disposable electrodes is attributed to enhanced features of electrodes such as user friendly, low manufacturing costs and low risk of hospital acquired infections as compared to reusable electrodes. In addition, widened application range of therapeutic electrodes especially in aesthetic surgeries, RF ablation procedures etc further propel the growth of the market. On the contrary lack of standardized reimbursement policies coupled with stringent regulatory barriers for approval are some of the factors that might encumber the growth of electrodes market. The global electrodes market for medical devices market was valued at USD 633.6 million in 2012 and is estimated to reach USD 1,451.2 million by 2019 growing at a CAGR of 11.7% from 2013 to 2019.
 
Diagnostic electrodes facilitate the diagnosis of several medical conditions such as cardiac disorders, neurological, fetal monitoring etc. The diagnostic electrode segment is further classified into five major types. ECG electrodes are anticipated to record highest growth rate of over 3% followed by fetal scalp electrodes throughout the forecast period from 2013 to 2019. In addition, extensive usage of these electrodes as compared to others and consistent technological sophistications further fuel the market growth. Some of the recent technological advancements include use of textile electrodes attached to shirts or other form of clothes rendering continuous cardiac monitoring which nowadays is mostly used by athletes and soldiers to keep a check on their heart activity. 
 
Innovation and novelty in design and features of therapeutic electrodes provide lucrative growth prospects for the overall medical electrodes market. This can be evident from the introduction of all these factors that encourage growth and uptake of these devices worldwide. Electrosurgical electrodes and defibrillator electrodes are estimated to record highest growth rates during the forecast period. The major reason being the development of wearable defibrillator by ZOLL Medical Corporation which can continuously monitor the cardiac rhythms of the wearer and occurrence of any abnormality triggers the alarm and renders the electrical shock to the user in order to regain the normal heart functionality.  
 
Geographical landscape elucidates the market trends based on four major geographies namely North America, Europe, Asia-Pacific and Rest of the World (RoW). North America and Europe dominated the global electrodes for medical devices market and accounted for largest percentage of the total market accounting for more than 60% of the total market in the year 2012. This is attributed to the presence of technologically sophisticated medical devices that in turn supports the presence of technologically advanced electrodes along with continuous product modifications resulting in introduction of efficient electrodes such as dry electrodes and hydrogel electrodes having enhanced adhesion capability and better conduction features as compared to gel based electrodes. 
 
In addition alarming rates of cardiac disorders and increased rate of diagnosis in these regions will further accelerate the growth and uptake of medical electrodes. Asia-Pacific region has been estimated to foresee the highest growth rate during the forecast period from 2013 to 2019. The reason being the growing trend for medical tourism in this region, rise in disposable income and increase in the number of smokers in the Asian region will boost the demand for medical device electrodes in near future. 
 
The overall electrodes market is highly fragmented with the presence of both established and emerging companies in this field. Some of the prominent market players in this market are 3M Company, Ambu A/S, CONMED Corporation, Philips Healthcare Medtronic, Inc., and Natus Medical, Inc. among others. Rigorous investment by the companies towards developing efficient diagnostic and therapeutic platforms is evident for promising growth prospects in this market. 
    Table of Contents
     
    Chapter 1 Introduction
    1.1 Report Description
    1.2 Research Methodology
          1.2.1 Sources
                   1.2.1.1 Secondary Research
                   1.2.1.2 Primary Research
                   1.2.1.3 Models
                   1.2.1.4 Assumptions
    1.3 Market Segmentation
    1.4 List of Abbreviations

    Chapter 2 Executive Summary
    2.1 Comparative Analysis: Global Electrodes for Medical Devices Market, by Geography, 2012 & 2019 (Value %)
     
    Chapter 3 Market Overview
    3.1 Introduction
    3.2 Classification of Medical Electrodes
    3.3 Applications of Electrodes
    3.4 Comparative Analysis Of Types Of Electrodes
    3.5 Factors Affecting the Selection of Electrodes
    3.6 Market Potential of Electrodes for Medical Devices
    3.7 Disposable and Reusable Electrodes Market Scenario
    3.8 Future Scenario of Electrodes for Medical Devices
    3.9 Market Dynamics
          3.9.1 Market Drivers
                  3.9.1.1 Growing demand for portable medical devices to curb rising hospital and healthcare cost will boost medical electrodes market
                  3.9.1.2 Need for minimally invasive surgical technologies upsurge demand for ablation electrodes
                  3.9.1.3 Disposable electrodes in demand due to health and safety concerns
         3.9.2 Market Restraints
                  3.9.2.1 Electric burns due to overheating and lack of biocompatibility tests affecting proper utilization and acceptance of electrodes and associated devices
                  3.9.2.2 FDA reclassification of pacemaker electrodes as high risk devices led to extended and complicated pre-market approval process
         3.9.3 Market Opportunities
                  3.9.3.1 Nanotechnology- An upcoming trend in medical device electrode market
    3.10 Porter’s Five Force Analysis
            3.10.1 Bargaining Power of Suppliers
            3.10.2 Bargaining Power of Buyers
            3.10.3 Threat of New Entrants
            3.10.4 Threat of Substitutes
            3.10.5 Competitive Rivalry
    3.11 Market Attractiveness Analysis
    3.12 Global Diagnostic and Therapeutic Electrodes for Medical Devices Market
            3.12.1 Global Diagnostic and Therapeutic Electrodes for Medical Devices Market Revenue, by Segments, 2011-2019 (USD Million)
    3.13 Competitive Landscape
            3.13.1 Market Share by Key Players, 2012 (Value %)
     
    Chapter 4 Global Diagnostic Electrodes for Medical Devices Market, by Product Type
    4.1 Overview
            4.1.1 Global Diagnostic Electrodes for Medical Devices Market Revenue, by Product Type, 2011-2019 (USD Million)
    4.2 Comparative Analysis: Global Diagnostic Electrodes for Medical Devices Market, By Product Type, 2012 & 2019 (Value %)
    4.3 Electrocardiography (ECG) Electrodes
            4.3.1 Global ECG Electrodes Market Revenue, 2011- 2019 (USD Million)
    4.4 Electroencephalography (EEG) Electrodes
            4.4.1 Global EEG Electrodes Market Revenue, 2011- 2019 (USD Million)
    4.5 Electromyography (EMG) Electrodes
            4.5.1 Global EMG Electrodes Market Revenue, 2011-2019 (USD Million)
    4.6 Electroretinography (ERG) Electrodes
            4.6.1 Global ERG Electrodes Market Revenue, 2011-2019 (USD Million)
    4.7 Fetal Scalp Electrodes
            4.7.1 Global Fetal Scalp Electrodes Market Revenue, 2011-2019 (USD Million)
    4.8 Others
            4.8.1 Global Others Market Revenue, 2011-2019 (USD Million)
     
    Chapter 5 Global Therapeutic Electrodes for Medical Devices Market, by Product Type
    5.1 Overview
            5.1.1 Global Therapeutic Electrodes for Medical Devices Market Revenue, by Product Type, 2011 – 2019 (USD Million)
    5.2 Comparative Analysis: Global Therapeutic Electrodes for Medical Devices Market, by Product Type, 2012 & 2019 (Value %)
    5.3 Transcutaneous Electric Nerve Stimulators (TENS) Electrodes
            5.3.1 Global TENS Electrodes Market Revenue, 2011-2019 (USD Million)
    5.4 Pacemaker Electrodes
            5.4.1 Global Pacemaker Electrodes Market Revenue, 2011-2019 (USD Million)
    5.5 Defibrillator Electrodes
            5.5.1 Global Defibrillator Electrodes Market Revenue, 2011-2019 (USD Million)
    5.6 Electrosurgical Electrodes
            5.6.1 Global Electrosurgical Electrodes Market Revenue, 2011-2019 (USD Million)
    5.7 Others
            5.7.1 Global Others Market Revenue, 2011-2019 (USD Million)
     
    Chapter 6 Global Electrodes for Medical Devices Market, by Geography
    6.1 Overview
            6.1.1 Global Electrodes for Medical Devices Market Revenue, by Geography, 2011-2019 (USD Million)
    6.2 North America
            6.2.1 North America Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)
    6.3 Europe
            6.3.1 Europe Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)
    6.4 Asia Pacific
            6.4.1 Asia-Pacific Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)
    6.5 Rest of the World (RoW)
            6.5.1 RoW Electrodes for Medical Devices Market Revenue, 2011-2019 (USD Million)
     
    Chapter 7 Recommendations
    7.1 Long term contracts with medical device manufacturers to strengthen the market presence
    7.2 Enhancing distribution networks
    7.3 Focus on enhancing the performance of electrodes
     
    Chapter 8 Company Profiles
    8.1 3M Company
            8.1.1 Company Overview
            8.1.2 Financial Overview
            8.1.3 Product Portfolio
            8.1.4 Business Strategies
            8.1.5 Recent Developments
    8.2 Ambu A/S
            8.2.1 Company Overview
            8.2.2 Financial Overview
            8.2.3 Product Portfolio
            8.2.4 Business Strategies
            8.2.5 Recent Developments
    8.3 Asahi Kasei Corporation
            8.3.1 Company Overview
            8.3.2 Financial Overview
            8.3.3 Product Portfolio
            8.3.4 Business Strategies
            8.3.5 Recent Developments
    8.4 C. R. Bard, Inc.
            8.4.1 Company Overview
            8.4.2 Financial Overview
            8.4.3 Product Portfolio
            8.4.4 Business Strategies
            8.4.5 Recent Developments
    8.5 CONMED Corporation
            8.5.1 Company Overview
            8.5.2 Financial Overview
            8.5.3 Product Portfolio
            8.5.4 Business Strategies
            8.5.5 Recent Developments
    8.6 Covidien plc
            8.6.1 Company Overview
            8.6.2 Financial Overview
            8.6.3 Product Portfolio
            8.6.4 Business Strategies
            8.6.5 Recent Developments
    8.7 Katecho, Inc.
            8.7.1 Company Overview
            8.7.2 Financial Overview
            8.7.3 Product portfolio
            8.7.4 Business Strategies
            8.7.5 Recent Developments
    8.8 Medtronic, Inc.
            8.8.1 Company Overview
            8.8.2 Financial Overview
            8.8.3 Product Portfolio
            8.8.4 Business Strategies
            8.8.5 Recent Developments
    8.9 GE Healthcare Ltd.
            8.9.1 Company Overview
            8.9.2 Financial Overview
            8.9.3 Product Portfolio
            8.9.4 Business Strategies
            8.9.5 Recent Developments
    8.10 Philips Healthcare
            8.10.1 Company Overview
            8.10.2 Financial Overview
            8.10.3 Product Portfolio
            8.10.4 Business Strategies
            8.10.5 Recent Developments
    8.11 Leonhard Lang GmbH
            8.11.1 Company Overview
            8.11.2 Financial Overview
            8.11.3 Product Portfolio
            8.11.4 Business Strategies
            8.11.5 Recent Developments
    8.12 Natus Medical Incorporated
            8.12.1 Company Overview
            8.12.2 Financial Overview
            8.12.3 Product Portfolio
            8.12.4 Business Strategies
            8.12.5 Recent Developments
    8.13 Nikomed USA Inc.
            8.13.1 Company Overview
            8.13.2 Financial Overview
            8.13.3 Product Portfolio
            8.13.4 Business Strategies
            8.13.5 Recent Developments
    8.14 Rhythmlink International, LLC
            8.14.1 Company Overview
            8.14.2 Financial Overview
            8.14.3 Product Portfolio
            8.14.4 Business Strategies
            8.14.5 Recent Developments
    List of Tables
     
    TABLE 1 List of Abbreviations
    TABLE 2 Market Snapshot: Global Electrodes for Medical Devices Market
    TABLE 3 Global Diagnostic and Therapeutic Electrodes Devices Market Revenue, by Segments, 2011-2019 (USD Million)
    TABLE 4 Global Diagnostic Electrodes for Medical Devices Market Revenue, by Product Type, 2011 – 2019 (USD Million)
    TABLE 5 Global Therapeutic Electrodes for Medical Devices Market Revenue, by Product Type, 2011 – 2019 (USD Million)
    TABLE 6 Global Electrodes for Medical Devices Market Revenue, by Geography, 2011 – 2019 (USD Million)

    List of Figures

     

    FIG. 1 Electrodes for Medical Devices Market Segmentation

    FIG. 2 Global Diagnostic Electrodes for Medical Devices Market, by Product Type, 2012 (USD Million)

    FIG. 3 Global Therapeutic Electrodes for Medical Devices Market, by Product Type, 2012 (USD Million)

    FIG. 4 Comparative Analysis: Global Electrodes for Medical Devices Market, by Geography, 2011 & 2018 (Value %)

    FIG. 5 Classification Of Medical Electrodes

    FIG. 6 Applications Of Electrodes

    FIG. 7 Comparative Analysis of Types Of Electrodes

    FIG. 8 Factors Affecting the Selection of Electrodes

    FIG. 9 Disposable and Reusable Electrodes for Medical Devices Market : Graphical Representation

    FIG. 10 Porter’s Five Forces Analysis: Global Electrodes for Medical Devices Market

    FIG. 11 Market Attractiveness Analysis: Global Electrodes for Medical Devices Market, by Geography

    FIG. 12 Market Share Analysis: Electrodes for Medical Devices Market, 2012 (Value %)

    FIG. 13 Comparative Analysis: Global Diagnostic Electrodes for Medical Devices Market, By Product Type, 2012 & 2019 (Value %)

    FIG. 14 Global ECG Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 15 Global EEG Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 16 Global EMG Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 17 Global ERG Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 18 Global Fetal Scalp Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 19 Global Others Market Revenue, 2011 – 2019 (USD Million)

    FIG. 20 Comparative Analysis: Global Therapeutic Electrodes for Medical Devices Market, by Product Type, 2012 & 2019 (Value %)

    FIG. 21 Global TENS Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 22 Global Pacemaker Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 23 Global Defibrillator Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 24 Global Electrosurgical Electrodes Market Revenue, 2011 – 2019 (USD Million)

    FIG. 25 Global Others Market Revenue, 2011 – 2019 (USD Million)

    FIG. 26 North America Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)

    FIG. 27 Europe Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)

    FIG. 28 Asia-Pacific Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)

    FIG. 29 RoW Electrodes for Medical Devices Market Revenue, 2011 – 2019 (USD Million)

    FIG. 30 3M Company: Net Sales, 2010 – 2012 (USD Million)

    FIG. 31 Ambu A/S:  Annual Revenue, 2010 – 2012 (USD Million)

    FIG. 32 Asahi Kasei Corporation: Net Sales: 2010– 2012(USD million)

    FIG. 33 C.R.Bard, Inc.,:  Annual Revenue, 2010 – 2012 (USD Million)

    FIG. 34 Conmed Corporation:  Annual Revenue, 2010 – 2012 (USD Million)

    FIG. 35 Covidien plc:  Annual Revenue, 2010 – 2012 (USD Million)

    FIG. 36 Medtronic, Inc.,:  Annual Revenue, 2010 – 2012 (USD Million)

    FIG. 37 GE Healthcare, Ltd.:  Annual Revenue, 2010 – 2012 (USD Million)

    FIG. 38 Philips Healthcare, Ltd.:  Annual Revenue, 2010 – 2012 (USD Million)

    FIG. 39 Natus Medical Incorporated: Annual Revenue, 2010 – 2012 (USD Million)

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Electrodes for Medical Devices Market Trends, 2013-2019

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